52% of agents report an increase in buyer enquiries for the fourth month in a row
RICS estate agents have reported that 52% of Agents have experienced an increase in buyer enquiries, for the fourth strong month in a row, with agents also predicting the sales pipeline to “remain solid for several months to come”.
In the recent months as the UK emerged from the strictest lockdown circumstances, the property market has climbed and maintained a stable buoyancy, with 55% of estate agents also “enjoying strong growth in sales, particularly in Yorkshire”.
Buyer enquiries, agreed sales and new listings specifically increased even further last month and are expected to do so until 2021. The market boom is likely to continue until around March 2021 when the Stamp Duty Land Tax holiday proposed in July comes to an end.
Letting agents have also reported a “similar market buoyancy across the UK” further indicating the demand for tenants and the rental market. However, this has not been reported in London, as the “closure of thousands of offices has severely weakened the demand among younger tenants for rented property”.
With this market boom, more buyers and sellers are “helping to boost activity” across the country and will continue to do so for several months, fuelling the UK economy and ever so slightly pushing us further away from the recession as a result of COVID-19.